Israeli Crypto Exchanges Seek to Balance Privacy, Client Needs

Israeli Crypto Exchanges Seek to Balance Privacy, Client Needs

Privacy concerns were raised after it was learned that Israel’s largest cryptocurrency exchange, Bits of Gold was revealed to have shared information on its largest clients with Israel’s Tax Authority.

However, Bits of Gold CEO Youval Rouach said that there is no formal arrangement or agreement with the tax authority, and said that they only gave what was required by law.

While legislation on cryptocurrency taxes is still pending, the Israel’s tax authority follows the lead of the anti-money laundering authority in obtaining information from exchanges which are treated as regular businesses rather than banks.

Source: BNA

Tags:
Data Privacy Philippines
info@privacy.com.ph